Quote from: Kwarkam on March 09, 2024, 10:38:29 PM

Quote from: JayJuanGee on March 09, 2024, 05:48:04 PM

This part is true... it can take several years to start to get into profits, yet even the mere fact that you are in profits would not even necessarily start to mean that you need to sell any coins. .

My point exactly. Most short term investors have a fixed investment duration, and then they sell off their coins, which as you've stated isn't the best. And as it takes several years to start making PROFITS, they mostly do not take heed to that, and their investment duration falls below the 'several' years that they need to get into profits. Bitcoin being as unpredictable as it is, can drop or whatever other reason, they find themselves incurring significant losses.

Through more years, there are more possibilities of compounding value, when then can put a person in a place where they are able to either live off their bitcoin or to greatly supplement their income and they are ONLY selling small portions of their bitcoin on a monthly or perhaps some other kind of timeline in which they choose to withdraw some of the value from BTC and convert it into their currency and/or make purchases with it..

So one thing is getting the stash to a large enough level that it starts to have meaning, and the other thing is being in profits and how much in profits, and even if a person might make it through more than a whole cycle, he might be able to consider continuing to mostly accumulate and maybe not having any desperate need to withdraw any value from his holdings until a bit of time has passed, maybe even a couple of cycles or more.

There are some guys willing to accept that they may well be into fairly heavy BTC accumulation for 10 years or more and then maybe to reassess their situation after going through that level of BTC accumulation, which also is likely to mean that their average cost per BTC is likely going to continue to go up, especially if the BTC prices are mostly going up and there is no real expectation of being able to buy on dips, if dips may or may not end up happening from any given price point...even though in retrospect we can see that the last couple of years had been a dip, and some folks did not realize that it was a dip, even though the presence of the dip should have had been fairly obvious.

Quote from: FinePoine0 on Today at 04:39:23 AM

Basically what do you think applies to people who don't earn bitcoins, specifically I mean you can accumulate bitcoins by deducting extra expenses from your income and household expenses. Because now is the best time to deposit bitcoins, the longer you deposit bitcoins the more your wealth will grow. So if you deposit 20% to 25% percent money in Bitcoin for long term then your future will bring much success. The proof is that I myself have been holding Bitcoin hold for 13 months and my wallet has grown, my portfolio has gained huge benefits. So I won't reveal my share of benefits because my inner greed might wake up. So you should never think about the benefits and sell your investment due to greed. So the longer term the investment is the more benefit will be earned.

It sounds as if you have stopped accumulating bitcoin FinePoine0. So does that mean that you have enough bitcoin?

You are not free from the trading mentality if you believe that buying and just sitting on it is going to be enough, and it sounds like you are just considering the point in which you are going to sell.. which also is not a long term commitment...

So yeah if you stopped buying, then you have already likely been losing opportunities because maybe you are either presuming the price is going to come down or you are planning to sell when the BTC price goes up, and then where is that going to put you? Are you going to be better off in the long term or just some short term pleasure that you were able to get from "buying low and selling high?" which is also known as trading.

Quote from: arjunmujay on Today at 11:21:09 AM

Quote from: NewRanger on Today at 11:09:58 AM

Quote from: JoyMarsha on Today at 09:32:47 AM

What is expected of us as bitcoin holders is to keep hodling our bitcoin in our portfolio and never to sell until bitcoin reaches our speculated price before we can be able to sell some part of our bitcoin holdings.

That right, We also have to think rationally when holding BTC coins and don't be quickly influenced by liking other coins when they go up, continue to exchange them for our BTC to hold the damn coin and that at any time can be a disaster for us because we don't know about its future even though it exists which says we will get double the profit when the market recovers.

That's right, you can choose another altcoin with a price and capitalization that is still low so you can get extraordinary results in the future. However, you still have to stick to Bitcoin.
Diversification is very important to minimize large losses.

There is no need to diversify into shitcoins.

That is nonsense.

Now if you build up your BTC holdings, you might start out just by only building your BTC and your cash, and at some point you might want to consider whether it would be better for you to diversify your investment into other kinds of investments besides dollars and cash (perhaps property, stocks, bonds, commodities and/or cash equivalents), but that does not mean that you would need to get involved in shitcoins at all or that it would be helpful (rather than a waste of time, energy and money) to get involved in shitcoins..

Quote from: I_Anime on Today at 01:37:44 PM

Quote from: arjunmujay on Today at 11:21:09 AM

Quote from: NewRanger on Today at 11:09:58 AM

Quote from: JoyMarsha on Today at 09:32:47 AM

What is expected of us as bitcoin holders is to keep hodling our bitcoin in our portfolio and never to sell until bitcoin reaches our speculated price before we can be able to sell some part of our bitcoin holdings.

That right, We also have to think rationally when holding BTC coins and don't be quickly influenced by liking other coins when they go up, continue to exchange them for our BTC to hold the damn coin and that at any time can be a disaster for us because we don't know about its future even though it exists which says we will get double the profit when the market recovers.

That's right, you can choose another altcoin with a price and capitalization that is still low so you can get extraordinary results in the future. However, you still have to stick to Bitcoin.
Diversification is very important to minimize large losses.

at first try as possible to accumulate some good quantity of bitcoin or hit your accumulation goal before having the thought of diversificating , because you diversificating now would reduce your accumulation of bitcoin , due to the process of sharing your funds in different investment in the name of diversificating. And you thinking diversificating in altcoins (shit coins) ain't a smart move at all because the risk attached is just too much , because most shitcoins are just pump and dump project and your funds may endup dumping with it. So after reaching your fuck you status (your bitcoin accumulation goal) as sir JJG normally refers to it . You can think of diversifying but not in altcoins but some good investment outside this space that you know the risk ain't that high and can still yield some good ROI.

You don't have to reach fuck you status prior to considering diversification, and so each person needs to try to consider for himself how comfortable he is with ONLY having exposure to bitcoin and cash, and there may be some advantage to having some of that cash that is potentially building up in other kinds of assets... .. so when does that trigger? It will be different for different people. Some people come to bitcoin and they already have other investments, and I am not even necessarily suggesting that any of the other investments into areas such as property, stocks, bonds, commodities and cash equivalents are going to be very helpful, but sometimes the more that any of us builds up our bitcoin holdings, then the more logical it will be to have some off-sets to that which could be cash, but we might feel that we are too vulnerable if we have 5 years of our salary in bitcoin and 1 or 2 years in cash..

And, so yeah if we are thinking about fuck you status as a possible goal, then that generally would be considered 20-30 years worth of income using something like the 200-WMA for valuation of your BTC holdings rather than using BTC's spot price since BTC's spot price tends to be all over the place.. so we would need to be making a reasonable assessment of the value of our BTC based on the bottom price rather than the current price or any potential top prices, even though if we sell any BTC we are going to be selling at spot price and maybe even trying to sell during points in which the spot price is relatively high based on expectations.. but that is once we get there, so we have to get there first in terms of figuring out how much BTC to accumulate and sometimes if we might want to make sure that we don't have all of our value in just one thing, especially once we might get to a point in which we have several years of our income in bitcoin.. and I cannot say exactly what each person might choose before they start to diversify, even though I know diversification is not needed in the beginning, but some level of diversification could even be started before reaching a whole year's accumulation of value in BTC.. and sometimes those diversified assets/currencies could be part of an emergency fund and/or reserves depending on how liquid they might be.. . but they would be things to sell prior to selling BTC since BTC would likely be considered the main thing to be wanting to accumulate the most so not wanting to prematurely selling any of it..

Quote from: Frankolala on Today at 04:40:03 PM

I don't think this is the best time to use this term BUY THE DIP AND HODL!. This is because we are not in the dip, and we are in the bull market, because bitcoin has passed the previous ATH. What should be said now is DCA AND HODL!, because at the current bitcoin price, it is only DCA that is the best strategy in which some accumulating bitcoin can use to increase his bitcoin portfolio due to the high price of bitcoin.

I would not even lump sum if I have the money to do that, because bitcoin price go into correction, so DCA regularly either weekly or monthly and hodli for a very long time, and when the bear market appears again, you can buy dip and hodli. However, this is my personal thoughts that I am sharing, and we all have the right to do whatever we think is best for us, but you will be responsible for your own actions.

If you are brand new to bitcoin, you should consider all three options of accumulation: Lump sum , DCA and buy the dip.

If you are investing for several years, you might not want to consider some of the options, but even if you have been buying for 1-2 years, and if you all of a sudden have extra money. .Let's say you get a $3k pay out for something. .then all of a sudden you have $3k. So how are you going to treat that extra money? I would think that you would want to consider all three categories, even if you might choose not to employ all three categories.. but the default still might be to put 1/3 into each, but if you think that we are more inclined towards up, then you might want to put more into lump sum in order to better prepare for up, since we cannot know if there is going to be further down.. so maybe you end up deciding to put 60% or 70% into lump sum and then divide the remaining part into buying on dips and DCA.

Quote from: promise444c5 on Today at 09:24:06 PM

Quote from: laijsica on Today at 04:55:04 PM

[The income should be more than the demand, and if the income is not high, how can you think about DCA?
If the income is not more than the demand, how will you meet the basic of the family... First of all you have to keep our family well and then something else.
At the end of the month you can invest your extra money invest in DCA you want but you have to keep the needs of the family in mind first, in this case you can reduce some extra expenses. you have to stick to a atlest DCA target amount that is 10% or more, it's depend on your income.

Yeah! It's true that your income must overflow your your expenses and budgets.
If this is not achieved then some measures could be taken like
Reduce your outflows
Avoid spending extravagantly
Setting up scale of preference as some can be forgone(or brought down to a new budget list )to come up with a DCA target
Avoiding deficit buget
With these, there should be something for ones DCA

You can also try to figure out ways to increase your income.

Quote from: ginsan on Today at 09:55:19 PM

Yes, it's up to them to interpret whatever they want in this bullish condition, but in my opinion we still prioritize the term Buy and Hold in our investment journey. For this reason, continue to stick to our respective concepts, where if you think that this bullsih condition is disturbing your concerns about buying Bitcoin, then you can wait for the price to fall to be able to accumulate Bitcoin.

Waiting or even lowering your DCA amount may not be a great idea, especially if you already determined that you don't have enough BTC. Yet, for sure, everyone has to make these decisions for themselves, and historically there are a lot of examples of guys reducing the amount of their DCA to wait for dips that never ended up happening, so they end up both screwing up their accumulation but they also screwed up their psychology...so sometimes it is better to just keep buying, even if your average costs per BTC is going up.

Also like you seem to suggest, there are ways to keep buying, but ONLY to reserve part of what you would have otherwise used to buy for the possibility for dips. No one can really say and each of us needs to decide how much to allocate to each of these areas, especially if we are trying to figure out if we have enough BTC or not.. and how we think we might be able to get more BTC and is it worth it to wait with some of it.. because sometimes it does help to have some money for those dips that come at various points, and they might come rapidly and other times we end up getting stuck back down in a correction zone.. but the question never really goes away concerning how much to buy and when and whether we should preserve some of that (and how much) for the possibility of buying on dips.

Quote from: adultcrypto on Today at 10:06:55 PM

Quote from: Mayor of ogba on Today at 02:57:15 AM

It is not mandatory to have an income that exceeds our needs before we can start our bitcoin investment. Since bitcoin is a long-term investment, we need a good source of income.

There is difference between needs and basic needs. Needs is a general term that covers both the basic needs and nonbasic needs. Basic needs are those things that you must have, they are mandatory to have and if you don't have them, your mind cannot be at rest and there is no way you can hold bitcoin under that situation. For example, food is a basic need, while driving luxury cars is not a basic need. You cannot hold a bitcoin portfolio when you are battling with hunger, the safety of that investment is not guaranteed because it can be sold anytime the hunger hits the right spots in the stomach.

Before investing in bitcoin, it is mandatory that the basic needs must be met and some funds even set aside as reserve incase of any emergency. Not that you cannot buy bitcoin when basic needs have not been met but calling yourself a long term holder of bitcoin when you have not sorted your basic needs is like self deceit because it will not work. We are advocating for ways people can better invest and hold bitcoin and the suggestion of basic needs and emergency funds is just one of them

Quote from: Mayor of ogba on Today at 02:57:15 AM

We will be using 10% of our salary to accumulate bitcoin every week or month, depending on when we receive our salary. We can also keep 20% of our salary as a reserve fund to be used to settle any unforeseen problems that may arise unexpectedly, so that we will not depend on our bitcoin investment to settle them.

The percentage of salary to allocate to bitcoin investment will vary per individual and will also depend if one is well paid or underpaid. For most jobs in my neighborhood where the salary is not even enough for basic needs, investing in bitcoin will be very difficult.

Yep, exactly. There are various levels of needs, and some are more basic and some can be deferred until later and some might be considered wants rather than needs, so we surely would need to know which category of the needs we have to satisfy and which ones might be deferred and which ones we might want to balance out in terms of whether to treat ourselves to some of our wants, and those can be personal choices, yet as you suggested, the more basic the need, the more we are going to get ourselves into trouble if we are using our basic needs money to invest and/or to buy bitcoin.. So in that regard, if we do not have enough income (or other resources) to satisfy our basic needs then we are going to have to satisfy those first.

By the way, we could also look up Maslow's heirarchy of needs if we want to consider those kinds of ideas about levels of needs.